Ras Al Khaimah

Company Formation Services Register your Company in RAK United Arab Emirates

Ras Al Khaimah is one of the fastest growing emirates in one of the fastest growing economies in the world, the United Arab Emirates. Renowned for its natural beauty and art de vivre, Ras Al Khaimah has also gained a reputation for being a transparent, tax-free, corruption-free and no-red tape to do business.

Its booming economy and proximity to other major international centres like Dubai has attracted hundreds of large, medium and small businesses from every part of the world; now, RAK Offshore is making it possible for non-resident corporations, entrepreneurs and individuals worldwide to enjoy all the advantages which were available only to resident entities.

RAK Investment Authority

RAK Investment Authority is a fully fledged business and industrial arena offering competitive Free Zone and Non Free Zone facilities. RAK Investment Authority offers industrial and business investors the benefit of smooth set up of their operations in a dynamic and synergistic environment.

Why choosing to incorporate a RAK Offshore company?

Why a RAK Offshore IBC is an excellent corporate structure:

The IBC is tax-free; The IBC portrays a good image to your Clients and suppliers; There is no public register of shareholders and directors; The RAK Offshore IBC is quick to incorporate. It is strictly confidential.

However, you must note that:

The RAK Offshore IBC is not permitted to trade in the United Arab Emirates (UAE);

The RAK Offshore IBC cannot rent local premises in the UAE;

Why choosing RAK Offshore?

In the current worldwide economic situation, RAK is becoming very efficient place to incorporate your offshore company.

UAE looks set to reap the rewards of the EU ruling under which banks are now forced to reveal information to tax authorities; the EU Savings Directive obliges financial institutions in all EU member states to either disclose tax and bank information to the relevant tax authority, or charge clients a hefty withholding tax. Though the new directives will specifically affect EU residents, a number of banks in ‘tax havens’ have also agreed to exchange customer information, including Jersey, Guernsey, the Isle of Man, the British Virgin Islands, the Cayman Islands, Switzerland, Liechtenstein, Monaco and San Marino.

The reputation of discretion for some of these countries is being eroded. In order to keep details of their wealth private, bank customers now have the option of paying a withholding tax which will be levied directly in the country in which their savings are held.

UAE has long enjoyed a reputation as a secure, tax-free jurisdiction for international banking and company incorporation. With this latest development from Europe, RAK company registration and corporate and personal banking options are becoming more popular with international businesses and high net worth individuals.

Main Advantages of RAK Offshore Company

100% income tax exemption 100% corporate tax exemption 100% capital and profit repatriation 100% ownership in Free Zones No capital gains tax No Value-added tax No Withholding tax Proximity to entire Gulf and global markets Low start-up costs Absolute privacy, confidentiality and protection of assets and information 100% foreign ownership Ability to maintain bank accounts (Current Account) in the UAE Limited liability company Minimum one director required, one shareholder and one secretary ( it can be the same person ) Own real properties in the UAE Annual Audit Report not required to be submitted to the Authority Time frame of 24 h It does not require the shareholder/director to be physically present in the UAE for incorporation No restriction on nationalities

What a RAK Offshore IBC may and may not do

It may have non UAE resident as director or shareholder. It may have UAE resident as director or shareholder. It may have corporate shareholder/corporate director It does not require the shareholder/director to be physically present in the UAE for incorporation It may hold shares in other UAE and worldwide companies. It may maintain bank accounts and deposits in the UAE or worldwide. It may own real estate in the UAE, with prior authorization from RAK Investment Authority. It is not obliged to maintain its books and records. It cannot have physical offices in the UAE. It may not carry on business within the UAE. It may not obtain UAE Residency Visa. It may not do banking and insurance business without special license.

Main activities a RAK Offshore IBC can hold Outside UAE

Most of RAK Offshore IBC’s are designed for:

General Trading

Consulting and Advisory Services Holding Company Property Owning International business services Professional Services Shipping and ship management companies